The FDIC recognizes that the damage caused by Hurricane Rita may affect the operations of financial institutions and their ability to meet the needs of their communities. In the wake of Hurricane Katrina, the Federal Deposit Insurance Corporation issued a series of Financial Institution Letters (FILs) providing guidance to facilitate the recovery process and to provide regulatory relief. Rather than issuing FILs specific to Hurricane Rita, the FDIC refers you to the recently promulgated FILs for guidance.

Highlights:

In responding to current or future natural disasters, the FDIC is referring depository institutions to recent FILs addressing various related issues:

The FDIC will continue to monitor recent disaster recovery efforts and may issue additional storm-related guidance as events warrant. FDIC-supervised institutions should notify their FDIC regional office as soon as possible after being impacted by a storm-related event. Depository institutions affected by severe storms are encouraged to consider all reasonable and prudent steps to meet the financial services needs of their communities.